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Thursday November 14, 2024

Taxpayers don't need to visit bank under FBR's new online payment system

System will be accessible directly from taxpayers' bank accounts via internet banking, ATMs, says FBR

By Web Desk
November 13, 2024
Headquarter of the Federal Board of Revenue in Islamabad. — APP/File
Headquarter of the Federal Board of Revenue in Islamabad. — APP/File

The Federal Board of Revenue (FBR) on Wednesday introduced a new online payment creation system for the taxpayers which does not require them to visit bank physically. 

In a statement issued by the tax-collecting authority, the system —  which would enable secure, efficient, and user-friendly online payments for taxpayers — was guided by the government's vision to modernise Pakistan's tax infrastructure.

"FBR is reinforcing its commitment to advancing tax administration and enhancing revenue collection through advanced digital solutions," it said, adding that the system, named ePayment 2.0, is available within the IRIS 2.0 portal.

The system would be accessible directly from taxpayers' bank accounts via internet banking, ATMs, and mobile banking, eliminating the need for physical bank visits.

ePayment 2.0 marks a significant advancement in revenue management, covering a wide range of taxes, including income tax, sales tax, federal excise duty, and withholding taxes, said the FBR.

The authority highlighted that the taxpayers used a separate ePayment system outside IRIS 2.0 previously, requiring them to switch between portals. However, the FBR has now provided a unified and improved user interface accessible directly within IRIS 2.0.

"By generating a unique Payment Slip ID (PSID), it enables quick and convenient payments for both registered and unregistered taxpayers. Upon payment completion, a computerised payment receipt (CPR) is issued via email and SMS, providing official confirmation and easy access for future use within the IRIS 2.0 system," said the statement.

The statement also said that through a secure, precise multi-step workflow, the system allows taxpayers to generate a PSID, complete payment through ADC channels and receive a CPR in real-time, accessible for future compliance needs within IRIS.

"To enhance transparency and accountability, it includes comprehensive PSID search feature, allowing taxpayers to easily retrieve and confirm payment records. This level of automation and integration minimises errors and delays, significantly improving the tax payment experience and supporting FBR’s vision for a business-friendly compliant tax environment," it highlighted.